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Stripe picks Everlink for host-to-host Interac debit processing services

Source: Everlink

We’re pleased to announce that Stripe has signed with Everlink for Host-to-Host Interac debit transaction processing and related services and are scheduled to go live before the end of 2023.

Stripe will leverage Everlink's Direct Connector status into the Interac Inter-Member Network (IMN) and employ our processing platform to facilitate in-person debit transactions for their merchants. The multi-year agreement supports both contact and contactless debit transactions in Canada. As part of the agreement Everlink will ensure all Stripe devices are current with Interac operating regulations through our device certification services.

Stripe is One of the World’s Leading Payments Companies and is Growing Quickly in Canada

Millions of companies of all sizes around the world use Stripe online and in person to accept payments, send payouts, automate financial processes, and ultimately grow revenue. Stripe launched in Canada more than ten years ago in 2012. Today, the company counts many of Canada’s leading companies as users including Shopify, Lightspeed, SkipTheDishes, Jobber, and Clearco as well as countless small and medium-sized businesses.

Millions of Canadians Prefer to Pay with Interac Debit

According to the “Canadian Payments Forecast, 2023” from TSI, $289.3B worth of Interac debit transactions were made in 2022 (up from $267.1B in 2021) and this is projected to grow to $350.9B by 2027. This makes it one of the leading payment modes for Canadians and explains why world-class organizations like Stripe want to ensure that their merchants have the ability to accept this method securely and reliably.

Everlink: Gateway to Interac

Everlink’s Host-to-Host service provides a resilient, secure, all-in-one payment gateway for acquirers, fintechs, and payment service providers. Thanks to the growing popularity of this solution, and others, provided to businesses across the nation, Everlink continues to extend its position as a mission-critical player in the Canadian payments ecosystem – as the following figures can attest:

• Process 100% of debit transactions in Canada for four of the world’s leading merchant acquirers.
• Process 100% of Interac mobile debit transactions in Canada.
• Projected to process 3.42B transactions in 2023 – up 30.2% year-over-year.
• Process transactions for over 168,000+ merchants in Canada.

“Organizations like Stripe are increasingly choosing Everlink for the security, reliability, and innovative nature of our solutions,” says Mark Ripplinger, President and CEO of Everlink. “Stripe is one of the most recognized and innovative brands in the payments industry. We’re honored that they have chosen us to provide this critical service for their merchant customers and we look forward to a long and productive relationship.” 

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